Franklin Templeton wins Korea pension mandate

National pension scheme outsources funds to a foreign manager for the first time.

South Koreas $50 billion National Pension System NPS has just mandated Franklin Templeton Investment Trust Management ITM, along with 12 Korean-owned institutions, a two-year contract to invest pension money, according to Michael Reed, country head.

Franklin Templeton is the first foreign-owned entity to be entrusted with NPS funds.

NPS began outsourcing to third-party fund managers only last year, when it awarded W200 billion $160 million among the investment management arms of Samsung, Mirae, LG and Regent...

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